The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-06-09
FINANCE and COMMERCE.
MONEY 9 TO 8 PER CENT, NEW
YORK EXCHANGE Is PREM.
Cotton Firm - Middling Cotton,
11c--Sales Yesterday, 275
Bales.
APPEAL 0TYIcR. J


The money market continues I'M.
changed, the rate for bank loans being to S
per cent. The Clearing House report shows
a considerable advance in clearfngs over the
corresponding time last week, last year and
the year before. In local securities but lit
tie is doing, tbs only Fale made today at the
Stock Exchange being twenty shares Men,
phis Gaslight Company stock at 76sse. Tax
ing District ISIS were 1O1 asked; Taxing
District IS, 1861 bid, 1O6 asked; Shelby
county IS, 10 bid, lis asked; county waI-
rants. SO bid, SO asked; Flippin-Memphis
bonds, stamped, l01 asked; unstamIed, 102
bid.
The local Gotten market opsned and closed
firm; middlipg lie, and sale; 275 bslen New
York spots closed steady; middling, II 7.l6c I;
futures closed barely steady, / to 4 points
lower; June, II. 2Sg11. 800. At New Orleans
spots closed finn; middling, 109lc; futures
steady, to 2 points lower; June, l07s9
1O.S0c. LIVERPOOL spots were quiet and I'M
changed; middine uplands and Orleans.
Cd; futures closed firm, at 2 10 3 points ad-
vanced; June, Old, sellers.
A leading New York cotton circular says
of the future market: 1T was only a
moderately active day, and for time APP
peared little slack. Later, however, tho
feeling became frmer, and more or less re-
covery ensued. The new crop again stood
up fairly, with an apparent inclination to
buy October at the large difference in costs.
The market closed a fraction under last
evening"
The Manchester Guardian Of the Sth in its
commercial article SAYS "The effect of the
latest rise in cotton at Liverpool will I'M
doubtedly be to cause further curtailment
Of the consumption of cotton. The opinion
is held that further advance in cotton will
be absolutely beneficial, ss it will hasten the
closing of the mills and the adoption of the
short time movement. There is no sign of
improved emit in business or even in the cur
rent demand at low prices. A moderate
business has been done in export yarns, but
sales have not rea,hed the full amount.
Some orders have teen booked for Japan
at better prices than were obtained week
ago, and there have also been few transact
tions for China, India and the continent.
The home business has been poor Cloth is
quiet A few orders have been placed for
moderate quar- titles of India and China sta
pies OF a triAe over the rates obtainable last
week. Manufacturers are disconnected with
the cure mt prices. Quotations are largely
beyond the reach Of buyers. Best prices are
firm, but there is little fresh business, prices
being upheld chiefly by unexecuted orders.
The grain and provision market remains
steady. A telegram from Minneapolis
states that the price of June wheat in Chi
cago brings out some queer results when
taken in connection with the scarcity Of
storage. A premium Of So bushel was
paid by Minneapolis parties yesterday for
room there. The Milwaukee road took out
14O cars in the last "a hours for CHICAGO.
That line will take wheat for anyone that
will guarantee room for 1t on arrival in Chi
eago.
The New York Commercial Chronicle of the
18th instant says:
On the coffee deal the tone seems to bs
very stiff again, and il looks as though the
bulls had obtained new grip. On the mar
ket for Brazils, there is revival Of the buoy
mt tone, and the upward inclination Of
values may again be recorded as apparently
in full force. Rio was strong today, but the
principal stimulus was, unquestionabiy, to
be found in the stronger condition of Have.
In actual coffee the dea ings were not very
extensive so far as reported, but good ices
were made and at the close negotiations in
progress il dictated that buyers were feeling
more interest, including jObbers, who are
generally credited with buyirg for stock.
IMPORTS.
Two hundred SKIS bran, 60 pkgs butter. &C
pkgs bacon, 226 pkgs bouts and shoes, q 900 bu
corn, 21S pigs cheese, 1893 SKIS coffee, go SKIS
cotton seed, car cotton seed, % pkgs dry
goods, 80 pkgs eggs, 400 brls -four, 440 bales
hay, 26 pkgs hats, so pkgs lard. $1,000 feet
lumber, % pBgs liquors, 10 brls meal, 1000
Blu oats, l ear pork sides, $50 brls sugar, 26l
pkgs tobacco.
ELEVATOR REPORTS.
The following shows the amount of grain
received, withdrawn and in store By regular
elevators, as reported to the Merchant bx-
change yesterday: COrn-Teceived, ii ,296 blu ;
with rsRn, 5O25 bu; in store, SO ,4g7 bu. Oats
received, 1873 bu: withdrawn, 600 bu; in
store, 1926 GU.